Should I Major In Finance or International Business?

Question

I am torn between the two. I am a high school senior who in the morning, finds himself watching "The Squawk Box" on CNBC. Watching with such an unwavering interest, one would think that I have money invested in the companies being mentioned. I have also begun visiting yahoo's Finance section on a daily basis, checking on companies and the ever rising U.S debt. From this I feel as if I will enjoy a career as an investment banker (who I hear make very good money). But on the other hand I love Japan. I know almost nothing about its history or market but I still can’t get enough of their culture. I've already began learning Japanese. I think that a major in international business coupled with a minor in Japanese may help me pursue this choice and I somewhat enjoy traveling. I am afraid that as an investment banker I will get bored being stuck in one place but isn’t the money good? With an international business major, I feel as if my future is uncertain. I’ve been left with quite a conun..

Answer 1

There is a fairly limited array of jobs within Investment Banking, but a nearly unlimited pool to choose from (and growing) in International Business. But know that Finance and International Business are pretty much the same thing. At most colleges, International Business is classified under Finance as "International Finance"--a directed specialty within the major. And while it is great to know Japanese as a hobby, having a degree stating so is much more powerful when job hunting.

But to warn you a bit, Investment Banking is not profiled at all really on CNBC as in the undertakings. IB involves mostly financial analysis (so a lengthy amount of coursework in Accounting is recommended). In fact, I would suggest an Accounting Minor (Financial Statement Analysis is probably the key component in IB). During deal times, you would be likely starting out as an Associate working 80-120 hour weeks (yes, about 12-16 hour days!) scouring over financial statements in order to correctly value the company in discussion. You are right that the pay is good, but it doesn't come without the work being put in. You are basically working 2 jobs and should therefor receive 2x the pay of a job in the finance space. First year bankers at large investment banks typically pull in 100k or so (seen anywhere from 80-140k). The big thing is to put in a few crazy years of no social life in order to move up the ranks and work less hours (or some retire or move to a fund).

International Finance is a high growth area, especially with the 24/7 markets we have in the 21st century. The need for experience in both the field and society is growing and becoming a valuable commodity. Opportunities for travel, job choice, and for pay are numerous.

Bottom Line: Many people force the IB career because of the $$ and either don't get in, don't last, or don't like it. Be very vigilant in your decision to pursue your true interests. No matter where you choose, the money will follow in this industry. Either way you go, I recommend an Accounting specialty and/or minor. It will be nearly required for IB and valuable for IF.

Answer 2

The investment banking can take you anywhere.  

Why not major in Finance, and minor in international business?  You can learn Japanese, but it doen't have to be part of college.  Many good companies will pay for you to have language training if they plan to move you to a certain country.  

Then there is always Rosetta Stone .........

Answer 3

International Finance